Saturday, November 17, 2012

Fed Offers Independent Review of Foreclosures. Really?

Well, it's been a while since I posted here, but had a momentary flash of brilliance just moments ago.

Since I have over 100 bookmarks to various articles and websites that offer information on the mortgage crisis in America and many which relate directly to my individual situation, I thought it might be a good idea to post them here as links, creating a kind of repository for the extensive research I've done as administrator of the estate.

This ida stemmed from a letter I received yesterday from my "friends" at the Federal Reserve (you may have heard of them), promising an independent review of my foreclosure.

Uhhhh, let's see... the Fed is a consortium of banks, or, rather, the Fed is owned by member banks, among them Bank of America, the servicer of the estate's mortgage. So, before requesting an independent review from these folks, I decided to do a little searching, and I found the following article, which spells out just how independent these reviews really are.

Basically, BofA does the review, so it's like borrowing money from a loan shark, falling behind on payments and then having the loan shark tell you he's going to review your loan. There's a very good possibility that you'll still end up with broken knuckles or a busted kneecap. Pretty much applies to bankers, too, as they are relatively the same as gangsters, just that they parade around in thousand-dollar suits.

Here's the link:

Is BofA’s Foreclosure Review Really Independent? (via

Late last year, the country’s bank regulators launched a massive program to evaluate millions of foreclosure cases and compensate homeowners who fell victim to the banks’ flawed or illegal practices. Regulators dubbed it the “Independent Foreclosure Review” to emphasize that the banks would…

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